5 Tampa Bay Cities, Areas Rank As Boomtowns

16 Feb 5 Tampa Bay Cities, Areas Rank As Boomtowns

TAMPA, FL – Tampa Bay cities and unincorporated areas dominated a top 10 list of boomtowns ranked by SmartAsset.com, a personal finance technology company headquartered in New York. Almost all of America’s top 10 boomtowns are in Florida, according to the recent report.

SmartAsset defines a boomtown as a town undergoing rapid business and population growth due to sudden prosperity. In 2017, Florida dominated the list with eight of the top 10 boomtowns.

SmartAsset.com collected data on 581 of the largest cities in the U.S. and compared the towns on five critical factors: net migration rate, GDP growth rate, housing growth rate, the annual change in the unemployment rate, and unemployment rate.

In its fourth annual study, the website says areas around Tampa Bay are booming. Tampa Bay had three cities on the list: Tampa, St. Petersburg and Largo and two areas that aren’t even incorporated towns: Riverview and Town ‘N Country.

Ranked at No. 10 on the list, SmartAsset says: "Tampa has seen its population grow 1.9 percent year on year. Tampa also ranked in the top 10 because its average temperature rarely dips below 70 degrees, a low crime rate and plenty of affordable housing, the report said.

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Tampa is also making a name for itself as an emerging start-up hub, which is attracting entrepreneurs looking to move to a new city straight from college, SmartAsset said.

Town ‘N Country ranked No. 8 for its proximity to Tampa International Airport and downtown Tampa. SmartAsset describes it as "a family-friendly area with a mix of shops and restaurants and close to great beaches."

Riverview ranked No. 7 on the list. SmartAsset said Riverview’s population increased 1.9 percent over the past year. The website described Riverview as having "a great school system and a host of recreational facilities."

St. Petersburg ranked at No. 5 with it population increasing 1.9 percent in 2017. The report describes St. Pete as "it holds the Guinness World Record for the most consecutive days with sunshine at 768 days. It is made up of several lovely waterside areas and claims to have the services, amenities and choice of any large city, while retaining a small-town neighborhood feel," the report said.

Largo ranked No. 2. The city is described as "the perfect base for those that enjoy the nightlife, entertainment and shopping scenes that a city offers combined with relaxed beachside living." SmartAsset said the city was an affordable place to live and a fun place to bring up children.

Spring Hill in Hernando County ranked No. 6 on the list. Other cities in the rankings are: Cape Coral at No. 1; Palm Coast at No. 3 and Franklin, Tenn. at No. 4 and Round Rock at No. 9.